§ 17-10-242 — Articles of dissolution

(a) Articles of dissolution of a cooperative shall be
filed with the secretary of state after payment of the claims of
all known creditors and claimants has been made or provided for
and the remaining property has been distributed by the board.
The articles of dissolution shall state:
(i) That all debts, obligations, and liabilities of
the cooperative have been paid or discharged or adequate
provisions have been made for them or time periods allowing
claims have run and other claims are not outstanding;
(ii) That the remaining property, assets, and claims
of the cooperative have been distributed among the members or
pursuant to a liquidation authorized by the members; and
(iii) That legal, administrative, or arbitration
proceedings by or against the cooperative are not pending or
adequate provision has been made for the satisfaction of a
judgment, order or decree that may be entered against the
cooperative in a pending proceeding.
(b) The cooperative is dissolved when the articles of
dissolution have been filed with the secretary of state.
(c) The secretary of state shall issue to the dissolved
cooperative or its legal representative a certificate of
dissolution that contains:
(i) The name of the dissolved cooperative;
(ii) The date the articles of dissolution were filed
with the secretary of state; and
(iii) A statement that the cooperative is dissolved.